Bloomberg Politics

What Iran-US Stalemate Means for Oil Prices, Midterms

Apr 13, 2026Center

Bloomberg's Washington and Asia reporters discuss the implications of US President Donald Trump’s move to blockade the Strait of Hormuz and what led to a failure to reach consensus during US-Iran talks in Pakistan. (Source: Bloomberg)

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Oil futures were at over $100 per barrel in the wake of President Trump’s announcement that the U.S. military would start blockading ships looking to enter the Strait of Hormuz. Prices of U.S. benchmark West Texas Intermediate crude hovered just above $104 per barrel late Sunday night, with Brent crude oil, the international benchmark, prices…

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